<ul>
<li>Ethereum is struggling below the resistance levels of $1,770 and $1,780.</li>
<li>The price is trading below $1,770 and the 100 hourly simple moving average.</li>
<li>On the hourly ETH/USD chart, there was a break above a short-term consolidation triangle around $1,740.</li>
</ul>
Ethereum price is finding support above the $1,720 region. If ETH moves above the $1,770 resistance, it could start a strong recovery.
<h2 id="strong-ethereum-trading-above-1700-strong">Ethereum Trading Above $1700</h2>

The price of Ethereum is finding good demand above the $1,720 support region. ETH seems to be forming a base above the $1,720 level, similar to Bitcoin. A low was formed around $1,718 and the price is slowly rising.
The price broke above the $1,740 level. Additionally, on the ETH/USD hourly chart, there was a break above a short-term contracting triangle with resistance near $1,740. The pair is currently struggling to settle above the 23.6% Fib retracement level of the major decline from the $1,855 high to $1,718 low.
Ethereum is still trading below $1,770 and the 100 hourly simple moving average. Immediate resistance is near the $1,760 level and the 100 hourly simple moving average. The first major resistance is near the $1,780 level, which is the 50% Fib retracement level of the major decline from the $1,855 high to $1,718 low.
<img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133495 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Which-Levels-Should-be-Broken-for-Ethereum-Price-to-Rise.png" alt="eth-usd-1" width="1808" height="803" />
ETH/USD 1 Hour Price Chart
A strong move above the resistance levels of $1,770 and $1,780 could lead Ethereum towards $1,850. The next resistance is located around $1,880, above which Ethereum could have the potential to rise to $1,920. Any gains above the $1,920 resistance zone could send the price towards the $2,040 resistance.
<h2 id="strong-will-eth-continue-to-decline-strong">Will ETH Continue to Decline?</h2>
If Ethereum fails to surpass the $1,780 resistance, it could start another decline. The first downside support is near the $1,730 level and the triangle trend line.
The next major support is near $1,720. A break below the $1,720 support and a close below this level could lead to a significant decline towards the $1,640 support level. Further losses could send the price towards the $1,600 region.
Technical Indicators
<ul>
<li>Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.</li>
<li>Hourly RSI – The RSI for ETH/USD is currently above the 50 level.</li>
<li>Main Support Level – $1,720</li>
<li>Main Resistance Level – $1,780</li>
</ul>
The post <a rel="nofollow" href="https://en.coinotag.com/which-levels-should-be-broken-for-ethereum-price-to-rise-to-2000/">Which Levels Should be Broken for Ethereum Price to Rise to $2000?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.

Which Levels Should be Broken for Ethereum Price to Rise to $2000?

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